Published On: Thu, Sep 14th, 2017
Published in Category: Islamabad

PTI demands high profile investigation in HBL’s branch closure case

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Islamabad: Pakistan Tehreek e Insaf (PTI) has written a letter to Chairman Public Accounts Committee (PAC) Syed Khursheed Shah while demanding high profile investigation in closure case of Habib Bank Limited (HBL) New York branch in the United States of America (USA) along with fine of billions of rupees.

PTI member PAC Dr Arif Alvi has submitted the respective letter into Chairman PAC Secretariat and demanded high level investigations of allegations and fine imposed on commercial bank HBL.

US authorities had closed the HBL New York branch upon violation of American rules and regulations and imposed fine of Rs $225 million on poor banking system.

Earlier Financial Services Department of US government after claims of misappropriations in give and take matters of HBL launched proceeding.

In the start, US authorities gave time to HBL officials for resolving matters however in creating more problems in banking give and take matters, US government shut down the branch.

Arif Alvi in his latter demanded that shut down of bank branch is exceptional matter.

PAC should launch investigation after summoning governor state bank besides calling HBL president as a huge loss has been faced by share holders in the form of $225 million fine.

Alvi further demanded stern action should be taken against those bank officials who found involved in this criminal act.


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